(NYSE: NER; Toronto) board of directors today declared a regular
quarterly dividend of 16 cents per share, payable May 15 to shareholders
of record on April 30.

The company has also established May 11 as the date of the annual meeting of shareholders. The record date for shareholders eligible to vote will be March 23.
NERCO is a diversified natural resource company with significant interests in low-sulfur coal, oil and natural gas, and precious metals.
-0- 2/18/92
/CONTACT: John C. Cummings, 503-731-6649, or Richard T. O'Brien, 503-731-6732, both of NERCO/
(NER) CO: NERCO Inc. ST: Oregon IN: OIL MNG SU: DIV

SC-LM -- SE002 -- 0093 02/18/92 16:00 EST

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